338 THE RISE OF ITALIAN FASCISM country and at a given time, to seize upon its essential differences. It is not a subject with definite attributes which need merely be selected, but the product of a situation from which it cannot be considered separately. The mistakes of the workers' parties, for instance, are as much part of the definition of fascism as the use made of them by the pro-, prietary classes. The present study of fascism has not been carried beyond the march on Rome, but there is no reason why we should not glance further.1 Although conditions in Italy ought to be comprehensively reviewed and compared with those in other countries during the years that followed, the present less enterprising method may at least enable us to point out a few common characteristics from which some con- clusions can be drawn. For this purpose fascism must be considered in relation to the economic, social, political and psychological conditions from which it sprang ; to its own social background and the class struggle ; to its tactics, its organization ; to its consequences and the regime that it set up ; finally to its own programme and ideology. Fascism is a post-war phenomenon and any attempt to define it by looking for an historical precedent, e.g. in Boaapartism, is fruitless and bound to lead to false con- clusions. Foremost among the conditions that made fascism possible was the economic crisis. No crisis, no fascism ; and this refers not to any economic crisis, but specifically to the one that settled permanently over the world after the war. The war left the world with industrial capacity beyond its immediate needs and a complete lack of co-ordination between the various branches of production, complicated by a reduced purchasing power in all countries. The result was over-production and famine, inflation and paralysis. We are no longer faced by classical crises, which rise from a terrible slump to a still higher rate of produc- tion and consumption. The * periodic * crises have been 1 Some use has here been made of research work undertaken for a more general history of the post-war world, which, given sufficient time, means and strength, I hope to complete and publish later on.